FOREIGN TRADE: The Insurance Mystery

U.S. exporters and their foreign
customers are mystified by the discrepancy between U.S. and British
marine war-risk insurance rates. Last week War Shipping Administration
was still charging rates almost double those charged by the British War
Risks Insurance Office for exactly the same services. Some comparative
rates from U.S. Atlantic ports:

> To Brazil and the River Plate: WSA 15%, British 6%.

> To South Africa: WSA 17½%, British 7½

> To India: WSA 17½%, British 12½%.

> To South America, West Coast: WSA 12½%, British 6%.

The only reason that London has not captured the entire world insurance
market lies in its insistence that...